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EQS-Adhoc: Orascom Development Holding AG: Invitation to the Annual General Meeting 2016


EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s): AGM/EGM/AGM/EGM
Orascom Development Holding AG: Invitation to the Annual General Meeting 2016

15.04.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

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Press Release

Invitation to the Annual General Meeting 2016

Altdorf/Cairo, 15th April 2016 - Orascom Development Holding AG (Orascom
Development) will hold its 8th Annual General Meeting on Monday, 9th May 2016,
at 15:00h CET (doors open at 14:00h CET) at Theater Uri, Schützengasse 11, 6460
Altdorf, Switzerland. The attached document includes the invitation along with
the agenda of the Annual General Meeting.

Prof. Eskandar Tooma whose term ends at the 2016 Annual General Meeting decided
not to stand for re-election. Following the previous announcement of November
30th 2015, Prof. Tooma's interim period as CFO comes to an end on May 10th,
2016. Ashraf Nessim, currently CFO of the Group's largest subsidiary will resume
the roles of ad-interim Group CFO moving forward. At the upcoming Annual General
Meeting, the Board of Directors proposes the re-election of all other board
members for a one-year term of office. Further, the Board of Directors proposes
that Naguib S. Sawiris to be elected as a new member of the Board of Directors
for a one-year term of office until the Annual General Meeting in 2017.

Curriculum Vitae - Naguib S. Sawiris

Naguib S. Sawiris is the Founder and CEO of Yup (2014-present), a San Francisco
based education Technology Company. Yup provides on-demand personalized learning
through mobile chat with over 300,000 student sign-ups. Yup has raised $7.5M
from leading tech and education investors including Index Ventures, Floodgate
Fund, and Stanford University's StartX Fund. Naguib S. Sawiris attended Stanford
University where he designed his own major, Economic and Enterprise Engineering.
He is an active angel investor, having invested in over 20 companies including
DoctorOnDemand, Transcriptic, and Womply.

Curriculum Vitae - Ashraf Nessim

Eng. Nessim has more than 20 years of experience in various fields including
finance, infrastructure and hospitality. He currently holds the position of
Deputy Group Chief Financial Officer of Orascom Development Holding. He is also
the Chief Financial Officer of Orascom Hotels and Development the Egyptian
largest subsidiary of the group which encompasses 64 subsidiaries. Prior to
joining the group he was the Chief Financial Officer representing Beltone
Private Equity in their Pick Albatros Investment, one of the largest players in
the travel and tourism industry in Egypt with almost 6,000 rooms under
management. He played a pivotal role in the legal and financial restructuring of
Pick Albatros Group. From 2007 to 2010 he was the Group Chief Financial Officer
of Mobiserve, a key player in the mobile telecom network infrastructure in 9
countries within the Middle East and South Asia. Prior to shifting his career to
finance he established the operation of Raya Distribution in Algeria and managed
merchandising activities in all 34 shops in of Nokia and Samsung in Egypt. Mr.
Nessim holds a Bachelor degree in Mechanical Engineering and he is also one of
the earlier people in Egypt to hold the CFA designation in 2004.

 

About Orascom Development Holding AG (ODH)

Orascom Development is a leading developer of fully integrated destinations that
include hotels, private villas and apartments, leisure facilities such as golf
courses, marinas and supporting infrastructure. Orascom Development's
diversified portfolio of destinations is spread over eight jurisdictions (Egypt,
UAE, Jordan, Oman, Switzerland, Morocco, Montenegro and United Kingdom), with
primary focus on touristic destinations. The Group currently operates eight
destinations; four in Egypt El Gouna, Taba Heights, Haram City and Makadi, The
Cove in United Arab Emirates , Jebel Sifah and Salalah Beach in Oman and
Andermatt in Switzerland. Orascom Development has a dual listing, with a primary
listing on the SIX Swiss Exchange and a secondary listing on the EGX Egyptian
Exchange. ODH owns 84.64% of Orascom Hotels and Development, its largest
Egyptian based subsidiary listed on the EGX Egyptian Exchange.

Investor Relations Contacts
Sara El-Gawahergy
Head of Investor Relations
Tel: +0100 218 5651
Tel: +41418741711
Email:ir@orascomdh.com


Contact Media Relations 
media@orascomdh.com

Disclaimer & Cautionary Statement

The information contained in this e-mail, its attachment and in any link to our
website indicated herein is not for use within any country or jurisdiction or by
any persons where such use would constitute a violation of law. If this applies
to you, you are not authorized to access or use any such information. Certain
statements in this e-mail and the attached news release may be forward-looking
statements, including, but not limited to, statements that are predications of
or indicate future events, trends, plans or objectives. Forward-looking
statements include statements regarding our targeted profit improvement, return
on equity targets, expense reductions, pricing conditions, dividend policy and
underwriting claims improvements. Undue reliance should not be placed on such
statements because, by their nature, they are subject to known and unknown risks
and uncertainties and can be affected by other factors that could cause actual
results and Orascom Development Holding AG's plans and objectives to differ
materially from those expressed or implied in the forward looking statements (or
from past results). Factors such as (i) general economic conditions and
competitive factors, particularly in our key markets; (ii) performance of
financial markets; (iii) levels of interest rates and currency exchange rates;
and (vii) changes in laws and regulations and in the policies of regulators may
have a direct bearing on Orascom Development Holding AG's results of operations
and on whether Orascom Development Holding AG will achieve its targets. Orascom
Development Holding AG undertakes no obligation to publicly update or revise any
of these forward-looking statements, whether to reflect new information, future
events or circumstances or otherwise. It should further be noted, that past
performance is not a guide to future performance. Please also note that interim
results are not necessarily indicative of the full-year results. Persons
requiring advice should consult an independent adviser.

End of ad hoc announcement

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15.04.2016 News transmitted by EQS Schweiz AG. www.eqs.com - news archive:
http://switzerland.eqs.com/de/News

The issuer is responsible for the contents of the release.
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Language: English

Company:  Orascom Development Holding AG

          Gotthardstraße 12

          6460  Altdorf

          Switzerland

Phone:    +41 41 874 17 17

Fax:      +41 41 874 17 07

E-mail:    ir@orascomdh.com

Internet: www.orascomdh.com

ISIN:     CH0038285679

Valor:    A0NJ37

Listed:   Foreign Exchange(s) SIX


End of News EQS Group News Service
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